Posts by admin
VA and FHA Approved Condos
Some condo projects have already been reviewed and approved by VA or FHA. Here’s where and how to search if your condo has already been approved for each type of financing. For VA loans, the VA (Veterans Affairs) must review and approve the condo project themselves. VA condo approvals are permanent and do…
Read MoreFHA Single Unit Approval
In October 2019, FHA (Federal Housing Administration) introduced the Single Unit Approval (SUA). This allows us to approve individual condominium units within a condominium that doesn’t have an existing approval for the condo association as a whole. The SUA provides a much quicker review process to approve an individual condo unit, rather than pursuing a…
Read MoreCrescendo
Imagine the housing market of early 2020-2022 as an orchestra. The musicians are comprised of loan officers like myself, realtors, and the buyers and sellers who’ve been trading real estate over the past two years. Imagine the buyers and sellers as the drums – setting the pace. I’m playing the horn within the brass section…
Read MoreFirst Payment
Mortgage payments are due on the 1st of the month. However they are not considered late unless the payment is received after the 15th of the month. And so your payment is “on time” if it’s received at any point up to the 15th. The “June 1st” payment is not late unless it is received…
Read MoreEstimating DC Property Taxes
Here is a tutorial to how I estimate property taxes. DC’s property tax rate for Class 1 residential property is .85%/year of the assessed value. So if a property is assessed at $100,000, the annual taxes would therefore be $850 a year. However DC homeowners might have reductions to their tax bill for a number…
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